Fashion and consumer products retail is undergoing a revolution, and companies are compelled to transform if they are to thrive. Omnichannel demand and see-now buy-now realities are reshaping how retailers bring new products to market and engage with their consumers.
In fact, speed to market has become the top market pressure for retailers, according to the latest edition of Deloitte’s Private Label Sourcing Survey. Additionally, a recent joint study conducted by Apparel Magazine and Gartner found tightly controlling product costs in the supply chain and improving customer relationships to be among the most important business initiatives for retail and apparel executives in 2017.
Here we explore three steps to remain relevant and prosper through this retail revolution.
Step #1: Increasing Speed to Market
Step #2: Managing Complex, Socially Responsible Supply Chains
Step #3: Offering Customized Customer Engagement